A few insights from a recent IT security event include: Cyber Risk Insurance is not only about breach now; ransomware and cyber crime are trending up; vendors are an exposure; the law of diminishing returns applies to IT security.
Knowing the different exposures is critical in writing professional liability (medical malpractice or E&O), general liability & Cyber Risk Insurance for Medical Spas & Day Spas. The miscellaneous healthcare industry is growing and unique risks are on the rise, and Medical Spas (Medi Spas) and Day Spas are two areas that have been increasing in popularity.
A comprehensive standalone Cyber Risk Insurance policy (also called Data Breach, Privacy and Network Security insurance coverage) is a critical piece of all organizations’ insurance protections (see prior posts here & here), and regulators have recommended the coverage as well (see our prior post here). A strong recommendation for standalone Cyber Risk Insurance is included in a NASDAQ article entitled Cyber Insurance: Why Your Company Needs It.
A breach of a printing company system shows the exposure to third party breaches, and the importance of Cyber Risk Insurance (also called Data Breach, Privacy and Network Security insurance coverage) for protection from situations outside your control.
According to a recent survey of IT professionals, 34% of [large] US companies were breached in the 12 months prior to the survey. Cyber Risk Insurance (also called Data Breach, Privacy and Network Security insurance coverage) is an important protection.